Regional SME clusters of innovation across the UK, backed by up to £75m, will boost local economies and pioneer game-changing solutions from healthcare to net zero.
Regional small and medium-sized enterprises (SME) clusters of world-class innovation across the UK are being backed by a share of £75 million that will boost local economies and pioneer game-changing solutions from healthcare to net zero. This was announced today (23 October) by UK Science Minister George Freeman.
Following pilots in Liverpool and Teesside, launched earlier this year, a further eight Launchpads, funded by Innovate UK, will be rolled out across every nation of the UK.
These initiatives will build on existing clusters of high-tech innovation in each region, such as renewable energy in Southwest Wales, agricultural technology (agri-tech) and food tech in East Anglia and health technologies in Yorkshire.
Supporting emerging clusters of SMEs
Launchpads are local programmes that support emerging clusters of SMEs by providing each Launchpad up to £7.5 million from Innovate UK to fund innovation projects led by businesses.
The £7.5 million bespoke funding from each Launchpad will allow SMEs to bid for support that is tailored to the unique needs of each business cluster. This will help them drive innovation, expand operations and boost their local economies.
Launchpads concentrate their support in specific areas of the UK with strong innovation capabilities.
This approach encourages close collaboration with local leaders and provides tailored support, including:
- funding for research and development
- access to specialised innovation resources
- opportunities for SMEs to connect, share ideas and participate in joint ventures
Scaling up from the Launchpad pilots
Eight new Launchpads are announced following the delivery of two pilots in 2022 to 2023. This follows through Innovate UK’s commitment in its strategic delivery plan 2022 to 2025 to “establish up to 10 Launchpad investments, anchored in high-growth innovation SME clusters”.
To determine the geographical and sector focus of the next eight Launchpads, local leaders submitted their proposals in response to Innovate UK’s call for ideas, with more than 40 received from across the UK.
A panel of senior Innovate UK directors, along with input from experts and academia, carefully considered the merits of these proposals. Based on the panel’s recommendations, the next eight Launchpads were selected.
The core mission for the Launchpad programme is to support the government’s objective to establish world-leading, globally interconnected innovation clusters, catalysing increased employment, economic growth and productivity within these regions.
Pivotal role in levelling up the UK
George Freeman MP, Minister of State at the Department for Science, Innovation and Technology, who has made government support for regional research and development (R&D) and innovation clusters a key priority, said: "The UK science, research and innovation economy is not just the ‘golden triangle’ of Cambridge-Oxford-London. It is all around the UK. From Glasgow satellite manufacturing to Manchester materials, Teesside hydrogen and Liverpool life sciences, alongside as many as 25 other globally recognised hubs around the UK – we have world class R&D – and supporting these regional clusters of world class innovation is central to our plan to make the UK an ‘Innovation Nation'. That is why we have launched our flagship Launchpads programme – and this £75 million investment will support high-growth companies to build the industries of tomorrow – in sectors from renewable energy through to digital health. These Launchpads will play a pivotal role in growing our local economies, creating jobs and levelling up the UK."
Benefits to local communities
Indro Mukerjee, Chief Executive of Innovate UK said: "Innovate UK is building strong regional partnerships across the UK to support local innovation and commercialisation. Our new Launchpads will help to attract further private sector R&D investment into innovation clusters, growing local economies and delivering societal and economic benefits to local communities."
Creating jobs and growing prosperity
Welsh Secretary of State David TC Davies said: "It is fantastic that £7.5 million of UK government funding is coming to Southwest Wales to support the growing net zero industry in this part of the country. There are some really innovative businesses who are already collaborating with each other and researchers to develop industries of the future, and this Launchpad funding will deliver what they need to take their work to the next level. The UK government is committed to creating jobs and growing prosperity in Wales, and this is exactly the type of intervention that will help to foster a modern 21st century economy in the Neath Port Talbot area."
Help boost economic growth
UK Government Minister for Scotland, John Lamont said: "Scotland is a world leader in scientific innovation and research and development across a range of hi-tech sectors. This funding from the UK government for a Scottish bio-based manufacturing launchpad, connected to the other clusters across the UK, will help boost economic growth and ensure our businesses are at the forefront of sustainable production techniques."
Exchanging ideas with experts across UK
Minister of State for Northern Ireland Steve Baker said: "The creation of a Precision Medicine Launchpad in Northern Ireland opens up fantastic opportunities for innovative small and medium healthcare and medical firms to flourish. This new network of UK government innovation clusters provides the ideal environment for local firms to exchange ideas with experts across the UK, to progress and thrive, and will provide a wealth of economic opportunities."
This article was first published on 23 October by Innovate UK.
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